OCL India - Q3FY13 Result Update - SPA Securities

OCL India declared steady set of numbers largely inline with our estimates, led by sharp sequential improvement in dispatches. While the top-line increased by 6.2% QoQ to INR 4366, net profit improved at a faster pace by 11.5% on the back of improved operational performance. Better demand in the eastern region coupled with better cost control measures led to higher margins.

We retain our BUY rating and target of INR 176 on the stock.

Source : Equity Bulls

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